- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
How do you feel about young NY investment bankers being worked 80-100 weeks?
Posted on 5/9/24 at 7:14 pm
Posted on 5/9/24 at 7:14 pm
There's a slew of new conversation this week after a 35 year old guy dropped dead from being "overworked" and now people are coming out of the woodwork claiming horrible conditions and demanding "change". This happens every 2-3 years it seems (the complaints, not dying suddenly), and it's always the younger ones.
LINK /
For reference, these guys are getting paid ~160k out of college with hefty annual bonuses but in return they're expected to be on call about 18 hours a day for two years to make tiny changes and updates and do research for their superiors. If they make it through that meat grinder they enter the making millions territory and that's why they stay around.
My take? frick em. There are a million jobs where you can relax and get paid 1/3 of what they earn. No one is forcing them to take and continue in these jobs, and there are a thousand people that want to do it for every one person that can't hack it. What say you?
LINK /
For reference, these guys are getting paid ~160k out of college with hefty annual bonuses but in return they're expected to be on call about 18 hours a day for two years to make tiny changes and updates and do research for their superiors. If they make it through that meat grinder they enter the making millions territory and that's why they stay around.
My take? frick em. There are a million jobs where you can relax and get paid 1/3 of what they earn. No one is forcing them to take and continue in these jobs, and there are a thousand people that want to do it for every one person that can't hack it. What say you?
68
Posted on 5/9/24 at 7:15 pm to Thundercles
I blame racism
Posted on 5/9/24 at 7:16 pm to Thundercles
There are so many people chasing the prestige and exit path that comes from working in IB that the institutions can effectively make the shittiest possible working conditions and there will still be thousands upon thousands willing and ready to eat shite.
This post was edited on 5/9/24 at 7:18 pm
Posted on 5/9/24 at 7:17 pm to Thundercles
160k in New York ain’t shite.
If you’re not making a million you’re lower class.
If you’re not making a million you’re lower class.
Posted on 5/9/24 at 7:19 pm to Thundercles
quote:
If they make it through that meat grinder they enter the making millions territory and that's why they stay around.
I mean if this is really true after 2 years I'd say it's fine and probably worth it if you're young.
Something tells me it's not though.
Posted on 5/9/24 at 7:19 pm to Shunface
quote:
If you’re not making a million you’re lower class.
Your best bet at getting to a million is by working in investment banking.
160k, even with NY taxes and NYC CoL, is still an incredible sum to be making as a new graduate.
Posted on 5/9/24 at 7:20 pm to Shunface
quote:
160k in New York ain’t shite.
It ain't baller status but it ain't nothing
Posted on 5/9/24 at 7:21 pm to Thundercles
I always wanted to be a banker
Posted on 5/9/24 at 7:22 pm to HempHead
Wow these are IVY league grads too. RN's can graduate from Southeastern and go make 200K+ in cali.
Posted on 5/9/24 at 7:22 pm to Thundercles
quote:
80-100 weeks
As a dad eho has worked 60 hours a week for the last 7 years, commuted an hour each way, and I have a significant amount of property I maintain, I'd tell them to stop being a bunch of bitches.
Posted on 5/9/24 at 7:22 pm to rintintin
You don’t hit 1M as VP so prob at least 6
Posted on 5/9/24 at 7:23 pm to X123F45
quote:
and I have a significant amount of property I maintain,
You got a zero-turn, pops?
Posted on 5/9/24 at 7:24 pm to ThatMakesSense
quote:
You got a zero-turn, pops?
6 acres on it. The other 80 needs something a bit larger.
Posted on 5/9/24 at 7:26 pm to Thundercles
quote:Feel? It's none of my business.
How do you feel about young NY investment bankers being worked 80-100 weeks?
Posted on 5/9/24 at 7:27 pm to Thundercles
I remember reading "young money", a book about overworked rookies on Wall St. The people the author followed around were all miserable. Good read
Posted on 5/9/24 at 7:27 pm to Thundercles
Based almost solely on seeing Margin Call, it looked like it sucked and ruled and those guys were kinda shitheads.
Posted on 5/9/24 at 7:28 pm to Shunface
quote:
160k in New York ain’t shite.
They also don’t have any time to spend it so there’s that
Posted on 5/9/24 at 7:29 pm to Thundercles
Weakness. We were grounded to a stump after year 3 but year 4 they approach you with the olive branch that is a normal existence and $500k to survive. What they don’t tell you is that along the way you’re showered with opportunity that will come from no where else other than those jobs. I ended up getting poached by a PE firm. While it was a completely different speed, the guys above me were all ex guys too so it was a right of passage and could only get that job because of my previous experience.
Fast forward to today, my wife (no pics), is in her 7th year post med school, residency/fellowship and finally getting a job. These pussys can’t handle three years, while my wife gave birth to two kids, researched a project that will soon be adopted by the PICU community, and made no more than $72k along the way. These kids are soft.
Fast forward to today, my wife (no pics), is in her 7th year post med school, residency/fellowship and finally getting a job. These pussys can’t handle three years, while my wife gave birth to two kids, researched a project that will soon be adopted by the PICU community, and made no more than $72k along the way. These kids are soft.
Posted on 5/9/24 at 7:29 pm to Ancient Astronaut
quote:
I always wanted to be a banker
Posted on 5/9/24 at 7:29 pm to Thundercles
quote:
How do you feel about young NY investment bankers being worked 80-100 weeks?
They know what they signed up for.
It's no different from an employee who starts with a company and then starts complaining about their pay. In both cases, the expectations and pay scale were known in advance. If they didn't agree with it, they should not have raised their hand to join the organization.
Page 1 of 9
Popular
Back to top
Follow TigerDroppings for LSU Football News